We are now bullish on Sprint Corporation (S) but need more ....Sprint Corporation, together with its subsidiaries, provides various wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the United States Virgin Islands. It operates in two segments, Wireless and Wireline.
We are now bullish on Sprint Corporation (S) . However we would like to see the stock trade above our Short-Term Model Down Trend Line at $6.25 in the direction of the Long Term Trend which is bullish.
If this occur I will design a Trend Continuation Strategy for this stock for our Global Proprietary Equity Fund with an allowance of four(4) times the Daily Average True Range ( 4 x 0.15=$0.60) below the current price at $6.20 . This will give us an Exit Price of $5.60 if our bullish analysis is wrong.
This is a long term trade with four(4) price targets, four(4) entries and four(4) percentage(%) Risk. The entries will depends on price action at the support zones.
Price Target 1: $7.10
Price Target 2: $12.50
Price Target 3: $20.40
Price Target 4: $25.00
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